Takaful insurance (Sudan example)

This study aims to understand the Islamic takaful insurance system as a regular and a contract, as well as the objectives of Islamic takaful insurance, its general and specific principles, and the basic differences between traditional insurance and takaful. In addition, it is to identify the strengths and difficulties of Islamic takaful insurance. In this study, the formula of insurance fatwa allowed by Muslim scholars, the jurisdiction of the model of taqful insurance, the concept and the beginning of insurance, types and categories of insurance, the emergence and development of insurance in Sudan, the insurance market in Sudan. and companies operating in the insurance market, Sudan's basic insurance regulations and financial standards, and Sudan's takaful insurance companies. The geographical spread of companies' services and marketing mechanisms, insurance products provided by companies, etc. Taking the growth opportunities of takaful insurance and business performance indicators in the takaful market in Sudan, the history and current situation of takaful insurance in Sudan has been examined. In this study, it was determined that the insurance expenditure per capita in Sudan, ie the insurance density, is very low. The reason for this is the insufficient knowledge and experience of the society on insurance and the insufficiency of the trainings to increase insurance awareness. In order to spread the insurance culture and increase awareness, it is important to provide education to the society about insurance and insurance activities. The Supervisory Board and insurance companies are required to take responsibility for spreading the insurance culture, raising insurance awareness and providing training on insurance activities.